Zhejiang's power grid fixed-asset investment reached a record high for the first half of the year, driven by grid upgrades and ultra-high-voltage project construction.

State Grid Zhejiang Electric Power invested 26.75 billion yuan ($3.94 billion) in fixed assets during January-June 2026, up 26.2% year on year, with new-type grid investment accounting for 24.06 billion yuan.

On the supply chain front, the company's procurement value exceeded 31.54 billion yuan by end-June, while material supply for 500 kV and below grid projects totaled 17.2 billion yuan in the first half.

The Gansu-Zhejiang ultra-high-voltage transmission line's Zhejiang section has been fully connected, with the Yuezhou converter station's AC system now operational. Green technologies developed by State Grid Zhejiang, including low-noise reactors and low-carbon materials, have been deployed at scale in the project, extending digital and intelligent upgrades of UHV main equipment into upstream manufacturing.